U.S. stocks retreat in face of record dollar strength - BNN Bloomberg

Europe’s Stoxx 600 Index fell 0.6 per cent, with tumbling miners leading the declines. Utilities jumped on news of a European Union power-price cap proposal. Contracts on the S&P 500 and Nasdaq 100 edged higher before the market hears from a slew of Federal Reserve speakers. In premarket trading, UiPath Inc. tumbled after the application software company’s weaker-than-expected revenue forecast. Gitlab Inc. rose after boosting its revenue guidance.

Bets on another 75 basis points Fed interest-rate hike to tackle high inflation have spurred a selloff in Treasuries. Traders are bracing for a European Central Bank rates decision due on Thursday, with the potential for a similar-size move.Aside from tightening monetary settings and an apparently unstoppable dollar, markets are also contending with a debilitating energy crisis in Europe and COVID lockdowns in China.

Oil erased a decline after Russian President Vladimir Putin underlined that his country won’t supply oil and fuel if price caps on the country’s exports are introduced. Bitcoin flirted with a test of lows for the year and gold recovered to trade above US$1,700 an ounce.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global stocks sink as Europe faces new squeeze on gas supplyGlobal stock markets sank Monday as Europe faced a new squeeze on Russian gas supplies.
Source: CTVCalgary - 🏆 26. / 68 Read more »

Top EU diplomat warns European arms stocks are running lowWeapons stocks in the European Union are running low as member countries continue to sends arms and ammunition to Ukraine, the bloc's top diplomat warned Monday as he urged EU nations to better coordinate their spending on military materiel. Mark my words these guys will fold sooner than you think. Say it louder, I think Putin and Xi Jinping didn't hear you. Just borrow some from Ukraine
Source: CTVNews - 🏆 1. / 99 Read more »

U.S. futures, European stocks rise; Pound rebounds - BNN BloombergUS stock futures climbed, with dip buyers drawn to attractive valuations after three weeks of Wall Street declines. European stocks rose as investors assessed responses to the region’s energy crisis ahead of the European Central Bank’s policy meeting later this week.
Source: BNNBloomberg - 🏆 83. / 50 Read more »